Trump's Trade Tariff Updates
Update: 1/22/2025
Tariffs Hit Snooze, For Now…
President Trump has delayed imposing new tariffs and put a pause on new rules or regulations until they’re reviewed by his appointees. Here’s a quick rundown of what’s happening:
- A top-to-bottom review of trade policies is underway, with agency heads reporting back by April 1.
- Mexico and Canada could face 25% tariffs as early as February 1, depending on outcomes.
- Potential actions include new tariffs, additional 301 tariffs, changes to section 321 de minimis, and updates to steel and aluminum tariffs.
- NPRMs (like those affecting section 321 entries) are postponed for 60 days for further review.
- Potential 10% tariff on goods from China, also set to begin on February 1.
The full White House memo can be viewed here.
Customs and Border Protection (CBP) emphasized their ongoing commitment to security, safety, and facilitating legitimate trade during a recent call with industry leaders.
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